Does the GCC region lure you to apply for jobs there or start a business in Dubai? Are you keen on a business setup in UAE, thanks to the strategic geographic advantage that it offers? Or are you enticed by the Dubai Freezone Company Setup and want to work there?
The latest employment data released by the Monster Employment Index (MEI) showed that the number of job opportunities posted online in the UAE rose by 45 percent in the period from January 2015 to January 2016. This ensured that the UAE emerged as the best performing market in the region.
This piece of good news about a sharp rise in the online job opportunities comes as a shot in the arm, amidst fears of a global recession, Chinese slowdown and news of widespread concerns about job cuts in the banking and construction sectors globally. Combined with the oil price decline and the slowdown of business activities across several key sectors, UAE has also been pushing for a marginal reduction in the workforce since June 2015.
The quantum rise in the job opportunities across a variety of non-oil sectors in the UAE shows that despite the flagging oil prices, there is an inherent mood of optimism in the market. This is driving the expectations for growth in 2016, and is reflected across the GCC with job opportunities rising by 20 percent over 2015 to 2016.
This kind of an upward rise in the job postings clearly indicates the positive impact that the UAE government’s policies have had on the economy. This is a thumbs-up for the country’s shift from the economy’s reliance on oil to diversification to other sectors. The policy of making a shift to a knowledge-based economy and non-oil sectors from an over-reliance on natural resources and oil also seems to have paid off. At the recently held World Government Summit of 2016, new ministries such as the Ministry of Youth, Happiness and Tolerance were reorganized to accommodate the changing needs of an evolving economic and social landscape.
The UAE industries that offer the best employment opportunities at present include Consumer Goods/FMCG, Food & Packaged, Home Appliance, Garments/Textiles/Leather, Gems & Jewellery with an impressive 54 percent growth in online job posts every year.
The second-best performing industry is healthcare. It’s showing a 53 percent growth in online job posts. Also, the retail/trade and logistics is seeking to take in candidates with a growth of 40 percent in job opportunities posted online year on year counted till January 2016. Other sectors which show a more modest growth of 4 percent, but a growth, nonetheless, include production/manufacturing and automotive and ancillary.
Given the positive buzz in the job market as seen in the figures, it is clear that the growth rate in the GCC region will attract more and more job seekers to its fold.
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